3 Ways Buyers Hinder Themselves
Buyers, watch out for these three mistakes in today’s market.
In today’s aggressive market, there are three common yet critical mistakes I witness buyers making that hinder their ability to purchase the right property:
1. Viewing properties without being pre-approved. Many buyers want to go out and look at homes before they’ve been pre-approved. It’s okay to see neighborhoods before checking with your lender, but if you’re not pre-approved, don’t start your home search just yet. Why? Well, what you’re looking at could be gone in two weeks if it’s in good shape. Pre-approval also tells you what you can afford. Viewing properties without a pre-approval means you could be looking at and forming attachments to homes outside of your price range.
2. Viewing properties on portal sites. Sites like Zillow, Realtor.com, Homes.com, and others are all advertising sites disguised as data sites. To find the best results, you’ll want to be on an MLS search; the MLS shows good, up-to-date information on active properties in the market. Zillow and other sites list a lot of things like pre-foreclosure homes as a gimmick to get your attention. This way, you’ll stay on the site longer, and they can get your information. It’s okay to look at these sites at the beginning of your home search, but when it comes time to seriously start the process, you need to work with an agent so that you’re not out in the market spinning your wheels.
3. Not working with an experienced agent. It’s critical that you work with a good agent, not just because they’re a family member or a friend. New and inexperienced agents don’t understand how aggressive and fast-paced the market is. Partner with a full-time agent who understands the market and will talk to you about things like today’s topic. A good agent will help you make offers on homes that are commensurate with your price range, and they can help you negotiate seller concessions, deal with escalation clauses, and navigate the inspection period.
Use this information to ensure that your next home purchase goes smoothly and successfully. If you have any questions about buying a home in today’s market, don’t hesitate to reach out to us via phone or email. We’d love to help you meet your real estate goals.